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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: Wayners who wrote (55036)	8/9/2011 9:49:29 PM
From: John	2 Recommendations Read Replies (1) \| Respond to of 103300

This congressional "super committee" scheme [1] is unconstitutional bullshit! What about the voters who do not have a representative from their state or district in the committee? Also, will the Tea Party Republicans have representation on the committee? This is just a shitty, bad idea that amounts to governance without representation. -ng- 1. miamiherald.com

To: Wayners who wrote (55036)	8/10/2011 9:38:23 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 103300

Re: "The Feds in this instance = Federal Govt." A weird hybrid, actually. (The Fed is also 'owned' by it's member banks.) Re: "The banks are sitting on cash because they are now zombie banks and the cash is necessary to meet reserve requirements and I guess it's parked at the Federal Reserve." Several things can count for their "Tier 1" capital ratios --- not just cash. But, just to give you an example of HOW BAD some of the garbage loans are that many probably still carry on their books there is this little factoid that came across the news yesterday: Wells Fargo just SOLD a big slug of (presumably non-performing <g>) securitized mortgage paper to Fannie. Wells sold $70 Billion (FACE VALUE amount) of mortgage bonds for... I believe it was around $500 million. Now that is ONE HELL of a haircut to take! (And it gives us an idea of how bad some of these banks' books may well be... and also perhaps how hard-up some of them may be for cash.) Others have plenty of cash, they just don't want to lend now.